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Fears record 2014 surplus ''recession-type''

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Port of Busan, South Korea: The competitiveness of the country's exports is weakening due to the strong won and weak yen.   © Reuters

SEOUL -- South Korea posted a record high current account surplus last year for the third year in a row as weak domestic demand reduced imports.

     According to preliminary data released by the Bank of Korea on Monday, South Korea recorded an $89.4 billion surplus in its current account in 2014, up 10.2% from the previous year.

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